The Law of Bankruptcy; Answers to Problems to Accompany the Law of Bankruptcy

The Law of Bankruptcy; Answers to Problems to Accompany the Law of Bankruptcy

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1917 edition. Excerpt: ...the chance of stepping into the licensee's place, but that the bankrupt himself may make the same bargain, and put the money safely into his pocket. The license court may or may not accept the buyer as the bankrupt's successor. That is the buyer's affair, and is not decisive upon the point now being considered. He buys a contingency, and buys it with his eyes open; but in my opinion, the trustee has the contingency to sell, and the bankrupt is bound to execute the instruments necessary to carry out the sale." In re Becker, 98 Fed. Rep. 407. 68. No. While the goodwill of a business may be sold, the bankrupt cannot be prevented from subsequently doing business in his own name and soliciting trade from his former customers. Heimbold vs. Heimbold Co., 53 How. Pr. (N. Y) 453. 69. No. Sec. 70, a, (2) has been construed to apply to such "rights" only as grow out of a patent already granted, such as the right to receive royalties under a license. In re McDonnell, 101 Fed. Rep. 239. 70. Clearly this money did not belong to A at the time of his adjudication and it therefore does not belong to the trustee. Wills vs. Wells, 8 Taunt. 264. 71. No, the personal rights of a bankrupt do not pass. In this respect the trustee in bankruptcy is much like the executor or administrator of a decedent. Stone vs. Boston & Maine R. R., 7 Gray 539. See also 44 L. R. A. 177 for a collection of cases on this point. 72. Yes. A judgment is a debt--not a mere claim--and it passes to the trustee if the bankrupt owned it when the petition was filed. Rice vs. Stone, I Allen 566. Everett vs. Judson, 228 TJ. S. 474. The answer to the second question of course is No, since rights are established as of the time of filing the petition. 73. A wins. "It is...show more

Product details

  • Paperback | 26 pages
  • 189 x 246 x 1mm | 68g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 123674408X
  • 9781236744081